Please try to edit your php.ini file in your site server. Edit memory_limit to your desire value.
As from your question, 128M (which is the default limit) has been exceeded, so there is something seriously wrong with your code as it should not take that much.
If you know why it takes that much and you want to allow it set memory_limit = 512M or higher and you should be good.
Answer for Homepage loadtime processing issue, Php fatal error memory exhausted